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Jul 29, 2009
07/09
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. >> what enron loophole? you're sort of confusing this. give me one enron loophole. if there's a loophole against the law, why not close-knit what does this have to do about the price of oil. >> i'm not proud of it, the president i worked for president bill clinton signed at the end of his administration a bill pushed by enron that allowed certain trading and derivatives to be deregulated offshore. as a result, from that point forward, you can plot this on a graf, put it on the screen. >> we had huge swings in oil. >> you can show disparity between spot markets the real thing and what warren buffet called these financial instruments of mass destruction, the derivatives. >> oh. all right. i appreciate that. by the way, i thought bill christianity w clinton was a pretty good president in some respects. i'll go back to steve forbes. we had massive swings in energy for years. right now like today, oil price dropped four bucks, down to $63. i don't know if they're going to 40. you can find analyst whose think they are and find distinguished people like boone pickens who t
. >> what enron loophole? you're sort of confusing this. give me one enron loophole. if there's a loophole against the law, why not close-knit what does this have to do about the price of oil. >> i'm not proud of it, the president i worked for president bill clinton signed at the end of his administration a bill pushed by enron that allowed certain trading and derivatives to be deregulated offshore. as a result, from that point forward, you can plot this on a graf, put it on the...
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Jul 30, 2009
07/09
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HLN
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he was convicted of fraud in connection with the collapse of enron. a new date for the hearing has not been set. >>> we're all feeling the pinch with the shaky economy. hln money expert clark howard is here to help you. logon to cnn.com/clark. when you do that you can submit your i-report and you might be selected to be profiled on our network and then you can get some valuable advice from america's money coach. >>> a passenger claims he saw a child driving a new york subway train. hear his story and find out how the transit system is responding. @@@@@@@@@@@@@@@@@@@@@ >>> in the aftermath of the cambridge police controversy in massachusetts, a boston cop sends out an e-mail that includes a racial slur. what the officer wrote and how he and his attorney are responding. >>> a baby cut from her mother's womb is found alive. and the woman suspected of killing her has been arrested. >>> the terms 69 custody deal for michael jackson's kids. and the possibility that michael had a love child. >>> hi, everybody, and welcome. i'm chuck roberts. >>> breaking new
he was convicted of fraud in connection with the collapse of enron. a new date for the hearing has not been set. >>> we're all feeling the pinch with the shaky economy. hln money expert clark howard is here to help you. logon to cnn.com/clark. when you do that you can submit your i-report and you might be selected to be profiled on our network and then you can get some valuable advice from america's money coach. >>> a passenger claims he saw a child driving a new york subway...
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Jul 15, 2009
07/09
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FOXNEWS
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enron. enron did that. bill: ok. now, i think we laid it out so that even the "new york times" could understand it. this is a huge con. i will say i believe in global warming. i think the earth is getting warmer. that's what the stats say. we have researched that. there is no doubt. however, if mexico and china and india say no, we are going to do exactly what we do. even though we cut back. that's not going to matter. they live on the same planet. >> it doesn't matter. the president was in italy last week. did he not have the support of china, india. bill: they said forget it? >> this is all for nothing. cap and trade will pass a watered down version. bill: i don't think it will pass. >> i actually do. it will be watered down. 85% of these emission standards are these coupons. whatever you want to call them. give it away. and exchange traded and goldman sachs and everybody else can make money off of it and why shouldn't they? somebody is going to have to make cash. >> we are in the middle of a very nasty recession.
enron. enron did that. bill: ok. now, i think we laid it out so that even the "new york times" could understand it. this is a huge con. i will say i believe in global warming. i think the earth is getting warmer. that's what the stats say. we have researched that. there is no doubt. however, if mexico and china and india say no, we are going to do exactly what we do. even though we cut back. that's not going to matter. they live on the same planet. >> it doesn't matter. the...
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Jul 19, 2009
07/09
by
WMAR
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eye 374
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. >> i like 'sa n enronment. it's serio ithat theyant to you get yourwork do. th can still joy it an so, like, thach fe sson if you are havingtrouble, you ca inn. mncs a ide it.>> rorter: thesrls work hard and theywin. they jusppto ha fun doing . grt story. od to see them ing at. we'll be t back. y saunder's naturealley, thace thatnspires r o faer... anslow elk mounins,orado. where'ur 100% nal nature valley granola bar the tae na inteed. thisib? d hamyill. th iound miralax. and miralax reliesconspationwith no bloatingno excess gas, noaste grit. 'll seeits early fferent. announcer: resto your bo's tural rhyt withiral. (aounc feing ba pain? dr. holl'sacpain lief orthotics withckgud technolo give you iia relief th lasllay long. . holl. painelie a step away. sw in az it own the mcnge li here america, it's know the happy me andhas be enaining children arou the world for three dedes. hnberm went to stige e main ingredient at mathe me happy, the toy. hamburg, softin fries. >> reporter: a retion a bo aking the fountiof w kids der, t, and yes, somemes we foo you veli ha
. >> i like 'sa n enronment. it's serio ithat theyant to you get yourwork do. th can still joy it an so, like, thach fe sson if you are havingtrouble, you ca inn. mncs a ide it.>> rorter: thesrls work hard and theywin. they jusppto ha fun doing . grt story. od to see them ing at. we'll be t back. y saunder's naturealley, thace thatnspires r o faer... anslow elk mounins,orado. where'ur 100% nal nature valley granola bar the tae na inteed. thisib? d hamyill. th iound miralax. and...
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307
Jul 16, 2009
07/09
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WETA
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eye 307
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and a more enronment capable of doing re for the students. for one, we've powered enormous resourceinto financial aid. probably mos important complishment with thos resources has been to make yale affordable for every family. >> charlie: anybo could get in yale coul get an edution fr. >> not free, no no. well in our music school yes but the coege, anyone, an family with incom under $60,000 goes for free. families within say the 60 to $200,000 ran get ver substantial nancial aid. so the average family that recees financial aid pays less than $1000. >> charlie: if you're the boast brilliant d in the world and you're father a billionaire, you get no aid. >> tt's right. no merit aid. >> charlie: just taking it away from someone else. >> exactly. it's entirelyistributed on financial need. so you pay theull $47,500 if your parents can afford it. >> charlie: 47,5 is what it costs to yal for a year. >> yes,toes. >> charlie 47,5. >> even the families are paying that 47,5 whi is a lot of moy are only paying about half of the st of yaleducation. >> chai
and a more enronment capable of doing re for the students. for one, we've powered enormous resourceinto financial aid. probably mos important complishment with thos resources has been to make yale affordable for every family. >> charlie: anybo could get in yale coul get an edution fr. >> not free, no no. well in our music school yes but the coege, anyone, an family with incom under $60,000 goes for free. families within say the 60 to $200,000 ran get ver substantial nancial aid. so...
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240
Jul 15, 2009
07/09
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FOXNEWS
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enron. enron did that. bill: ok. now, i think we laid it out so that even the "new york times" could understand it. this is a huge con. i will say i believe in global warming. i think the earth is getting warmer. that's what the stats say. we have researched that. there is no doubt. however, if mexico and china and india say no, we are going to do exactly what we do. even though we cut back. that's not going to matter. they live on the same planet. >> it doesn't matter. the president was in italy last week. did he not have the support of china, india. bill: they said forget it? >> this is all for nothing. cap and trade will pass a watered down version. bill: i don't think it will pass. >> i actually do. it will be watered down. 85% of these emission standards are these coupons. whatever you want to call them. give it away. and exchange traded and goldman sachs and everybody else can make money off of it and why shouldn't they? somebody is going to have to make cash. >> we are in the middle of a very nasty recession.
enron. enron did that. bill: ok. now, i think we laid it out so that even the "new york times" could understand it. this is a huge con. i will say i believe in global warming. i think the earth is getting warmer. that's what the stats say. we have researched that. there is no doubt. however, if mexico and china and india say no, we are going to do exactly what we do. even though we cut back. that's not going to matter. they live on the same planet. >> it doesn't matter. the...
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782
Jul 12, 2009
07/09
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WETA
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eye 782
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but t changing legal enronment is adding new pressure. kim lawton s our report. >> report: boston's historic church of the covenant h been an imptant place for anne crane and sarah peeault. the lesbianouple had their first date there in the late 1970snd by the time massachusetts legalizedame-sex marriage, the twoad been active members for morthan 25 years. so a church weddingeemed the obvious choice. >> in particular, we wanteto be married at our home churc with our communitand our faily and friends. >> reporter: but it was complicated urch of the covenant is dlly aligned with two mainline denomations: the united church of chri and the presbyterian church. and while the u.c.c. has no problem maying same-sex couple it's against national presbyteri policy. >> well, it's painful know tht the church that i've been parof all my life does not cognize our relationship and our marriage as bng a legitime marriage. >> reporter: churcof the covenant workeit out so that a retired u.c.c. nister conducted the ceremony, anthe presbyterian side of the ch
but t changing legal enronment is adding new pressure. kim lawton s our report. >> report: boston's historic church of the covenant h been an imptant place for anne crane and sarah peeault. the lesbianouple had their first date there in the late 1970snd by the time massachusetts legalizedame-sex marriage, the twoad been active members for morthan 25 years. so a church weddingeemed the obvious choice. >> in particular, we wanteto be married at our home churc with our communitand our...
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Jul 8, 2009
07/09
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CNBC
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the year 2000 when my former boss, bill clinton, signed it into law, and i'm not proud of that, the enron corporation lobbied for and got what the senate committee on investigations said were the enron loopholes. what does that mean? what it means they were able to get all commodities regulated in the future except -- except -- for energy and oil. electronic exchanges became unregulated. off shore, and multinationals unregulated. what did that do? by the way, do you know what that law also included, an exemption from state gambling laws, why, because gambling and the effect, the effect was to raise prices. artificially, not based on supply and demand. >> is an issue here. you make some good points. but dick armey, look, there is a good point here, limiting trading, that crosses a line, dick. >> right. >> that moves me toward price controls. and do you know what, these guys, what is it, sarkozy and gordon brown from england and france, they say we need supervision in markets. i say those guys need adult supervision and i think the market ought to supervise oil prices. what's your take? you
the year 2000 when my former boss, bill clinton, signed it into law, and i'm not proud of that, the enron corporation lobbied for and got what the senate committee on investigations said were the enron loopholes. what does that mean? what it means they were able to get all commodities regulated in the future except -- except -- for energy and oil. electronic exchanges became unregulated. off shore, and multinationals unregulated. what did that do? by the way, do you know what that law also...
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2.2K
Jul 20, 2009
07/09
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WETA
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falling wayehind its rivals one of the ibm, raised its tlook for the year, but it said the economic enronment remains tough. analyst thomas smith of stdard and poor's ss i.b.m. and hewlt ckard are the stocks to watch here. >> both those coanies have diversied into services and through this dowurn their puniment on the revenue line, if you will, has beeless sere than i think it might have been had they noteen diversifyingver the last five years and th's helped steady their ships and th now look ke strong strategic model th working prettyell. >> repter: two other tech giants report this week. ple tomorrow and microsoft o thursday. analysts say iestors need to focus more on what these companies say about thfuture than what they say abo the past. ple is as much a phone and nsumer electronics company a it is a couter firm these ys. microsoft'report will be noted for s projections about upcoming ses of its new operating syst, windows 7, and for progress by its ng search engi tom lydon, editor of etftrends.com ys eleconically traded funds like ishares, dow jones, us tec select, antechnology select s
falling wayehind its rivals one of the ibm, raised its tlook for the year, but it said the economic enronment remains tough. analyst thomas smith of stdard and poor's ss i.b.m. and hewlt ckard are the stocks to watch here. >> both those coanies have diversied into services and through this dowurn their puniment on the revenue line, if you will, has beeless sere than i think it might have been had they noteen diversifyingver the last five years and th's helped steady their ships and th now...
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308
Jul 13, 2009
07/09
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CNBC
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you can use any stock in the world, including enron and as long as you have a stop loss -- >> what about transaction costs? >> can i tell you something? >> barron's magazine once again, that long-run adage, you can't trade your way. you cannot do it. >> if you held on -- >> after taxes and after transaction costs. >> that's right. but if you held on to enron and world com and lehman's, and held on, you don't have to pay capital gains. >> jeremy segal, what's your response to that? >> well, i think if you do trailing stop losses, let me tell you in a volatile market, you're stopped out of 90% of your stocks at the low. >> which is terrific when it's up 50% in a volatile stock market like we've had. >> not in normal markets, it's very hard to do that. and transactions -- >> 90% of your stock. the normal market's 20% is plenty of room for blue chips. >> jeremy segal, could we be on the verge of a major long run sell off in treasury bonds here? >> i think treasury bonds are the toxic assets of the next decade. >> let me ask you. could we be on the verge -- this appeals to me the most, becaus
you can use any stock in the world, including enron and as long as you have a stop loss -- >> what about transaction costs? >> can i tell you something? >> barron's magazine once again, that long-run adage, you can't trade your way. you cannot do it. >> if you held on -- >> after taxes and after transaction costs. >> that's right. but if you held on to enron and world com and lehman's, and held on, you don't have to pay capital gains. >> jeremy segal,...
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258
Jul 24, 2009
07/09
by
WBAL
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eye 258
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rounds to enron three are on friday night. the remainder will play on saturday. the former atlanta falcons quarterback michael vick house learned when he will return to the nfl. he will be suspended for the first four games if pecan find a team to sign him. in less than a week, the minnesota vikings report to training camp, and the vikings still do not know if brett farr of -- brett favre will join them. he has to decide whether to come out of retirement again. he has evolved into the new face of football in leases and terry and most lawyers will tell you football does not usually smile on -- he has evolved into the new face of football and indecision. most players will tell you football does not usually smile on that. end roethlisberger looked both uncomfortable and upset, reading a statement. a nevada woman claims he raped her in the penthouse of a casino hotel last summer. he denies there accusations. the woman never filed legal charges against the steelers quarterback, saying she feared she would lose her job if she did go. -- did go to the police. >> her fal
rounds to enron three are on friday night. the remainder will play on saturday. the former atlanta falcons quarterback michael vick house learned when he will return to the nfl. he will be suspended for the first four games if pecan find a team to sign him. in less than a week, the minnesota vikings report to training camp, and the vikings still do not know if brett farr of -- brett favre will join them. he has to decide whether to come out of retirement again. he has evolved into the new face...
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425
Jul 30, 2009
07/09
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WETA
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eye 425
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animals in the broad uth pacific region known as oce oceana, unless there are mor changes to ptect the enronment. the warng comes from scientists who have reviewed thousands of sear studies in the region and insist thempact of huma is the caus we get moreon this from shane mcleod of abc in australia >> reporter: going ck through the fossilrecord, sientists re still ucertain about what caused the five or six mass exnctions in earth's history. e events like the o thatiped ou the dinosaurs. with the number of extinction rising alarmingly decades, scientists areworried. >>ost biologists believe now we're intour xth gatest extinctionevent, and i's really down to o spees, and that'shuman. >> porter: and oeana is no ifferent. scientts have reviewed more th 24,000 conservation researchapers across the region. th've found environmentss diverse asaustralia's outba and th pacific isnds affecting many of t same survival challenges. unequivally, it's the role of hans that's determinin what's hppening to the biodiversi conservation in our region. and it'sundamentally due to ineasing population rates an our co
animals in the broad uth pacific region known as oce oceana, unless there are mor changes to ptect the enronment. the warng comes from scientists who have reviewed thousands of sear studies in the region and insist thempact of huma is the caus we get moreon this from shane mcleod of abc in australia >> reporter: going ck through the fossilrecord, sientists re still ucertain about what caused the five or six mass exnctions in earth's history. e events like the o thatiped ou the dinosaurs....
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368
Jul 12, 2009
07/09
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WETA
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eye 368
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have not done a great job of emacing the environme, and speaking out aut what w believe,hich ishat the enronment should b protected and that w have responsibility to take care of moth earth. i thinke need to get that out on the table. but i would say on cap in trade, is it goi -- you know, we -- that's her main thing on her plate right now, andetting that passed for the president. the administration believes at ere's a strong, strong ne for this piece of legislation, and that it's going to have a profound economic, posive impact. nothing could be further from the truth. my goodness,e're going to inves all thfhis time and energy. we'rnot going to have that much impact on the overall clate, it's going to cosa t of money and lose a lot of jobs. >> every study that've seen shows thathere's a lot of hope in gre jobs, andhat it's not a choice that welways thought itas betwe business and the vironment. and that as you say, everybody should be for conservation. everybody ould be for economic devepment, for new jobs, consvatives no less than liberals, ergy i such a huge issue. >> absolutely. >>ut the cli
have not done a great job of emacing the environme, and speaking out aut what w believe,hich ishat the enronment should b protected and that w have responsibility to take care of moth earth. i thinke need to get that out on the table. but i would say on cap in trade, is it goi -- you know, we -- that's her main thing on her plate right now, andetting that passed for the president. the administration believes at ere's a strong, strong ne for this piece of legislation, and that it's going to have...
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288
Jul 5, 2009
07/09
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MSNBC
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rher than the her pen fitse've come to realize like incrsed productivity and eating a sults-only work enronment. >> wn people are home, they're working harder and there's no interruptions and mo time to concentrate. it's ae inten environment so productivy usually increasing dramatically. >> the people you want in yir busiss are those thawould be there anyway. they'll be dedicateand interested and inventive and they do this inour office >> the key to making it work is solid communication and i.t. support. from videoconferencing to new voice-over i.t. phones, eryone needs to beomfortable with t technology. let me put you through to t conference room. one ment, please. >> we commied a l of time to training and coaching. go to these users' homes and making sure they're -- they have theirach and their wospes figured out is one thing. after about two weeks evebody was comfortablewith videoconferencing and they wer mfore with document shing and soon and so forth online. they took toit a lot faster and soon than i aicipated. >> allof which leads another g benefit, happy employees. >> what's happening a
rher than the her pen fitse've come to realize like incrsed productivity and eating a sults-only work enronment. >> wn people are home, they're working harder and there's no interruptions and mo time to concentrate. it's ae inten environment so productivy usually increasing dramatically. >> the people you want in yir busiss are those thawould be there anyway. they'll be dedicateand interested and inventive and they do this inour office >> the key to making it work is solid...
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560
Jul 28, 2009
07/09
by
WUSA
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eye 560
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. >> enron. >> enron, global crossing, tie kor. you know, we put a few people in jail, we've had reform, but we've left the system unchanged. >> seems like a million years ago. >> seems like a million years ago. >> are there similarities to this current financial crisis that may have had seeds from that crisis five or six years ago? >> there's a direct line, because the smm was left unchanged, basically unregulated, basically that the free market would make it all work out find, that companies would do the right thing. and what happened six years later is the scale is so much more enormous. in 2003, they were playing with billions of shareholder wealth. now they are playing with trillions of taxpayer money. and my concern, harry, and the reason why i updated and brought the book out again is that we are ready to do the same thing again. we are ready to move on. "newsweek" has a cover story saying the recession is over. >> is over, right. >> announcing multibillion-dollar profits, the storm up to 9,000. what i'm saying is this victo
. >> enron. >> enron, global crossing, tie kor. you know, we put a few people in jail, we've had reform, but we've left the system unchanged. >> seems like a million years ago. >> seems like a million years ago. >> are there similarities to this current financial crisis that may have had seeds from that crisis five or six years ago? >> there's a direct line, because the smm was left unchanged, basically unregulated, basically that the free market would make...
773
773
Jul 11, 2009
07/09
by
CNBC
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eye 773
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quote 1
you took a lot of f coananiethat i thinindodo wl in a very slow enronment, talking aboututomome of t the dgsgssome of the slower chs. ansaid that they have totoo o here. exaiaito people why they donon't fit. because a lot of peoeople owow that the e ecomymy inot strong. t ty want to be defensiveve. >> thehe pprpriery portfolio i have, i'm working wiwith ainine amount o of shsh. i have to mamake aececion. where dodo a allate. do i want to stay y fefense andd just enjoy t t yiyields hoping that eventually, the other stocks will become werful again. toto ccentrate my firepower, make micekek uonon l the lo-term bet. the babas s anhome builders are going to come ouout ofhihithing withth t n nextwo years and th'll be some multiple as s they are now. >>ot a trade. >>>> n not a trade. >>neneloyment goes above 10%0%. do you change yoururinind? >> no. i expectctnenempyment to go as highgh a1111% ich it did in 19. okay, , c camout of that receioio you bought citibank in n 1981 you made a tonon omomone when you b bghght in 1991, prprincelalali did. you mamade1010 bion. in 20000 2 200 we had the
you took a lot of f coananiethat i thinindodo wl in a very slow enronment, talking aboututomome of t the dgsgssome of the slower chs. ansaid that they have totoo o here. exaiaito people why they donon't fit. because a lot of peoeople owow that the e ecomymy inot strong. t ty want to be defensiveve. >> thehe pprpriery portfolio i have, i'm working wiwith ainine amount o of shsh. i have to mamake aececion. where dodo a allate. do i want to stay y fefense andd just enjoy t t yiyields hoping...
644
644
Jul 15, 2009
07/09
by
WUSA
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eye 644
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one guy opened it up after the enron scandal. he teaches classes on close- quarter combat. and he calls himself an inmate adaptation specialist. but this is my favorite. in l.a. there's an excon that served ten years for drug trafficking, security violations and distribution of machine guns. he has a course called fed time 101. >> oh, my goodness. >> and his course is help avoid assault, prison ringo and how to avoid the worst jobs in prison. >> reporter: and he had one chapter about prison feng shui. we are out of time and we will have an interview with one of these prison coaches today at wusa9.com. as lauren said, really? if you want to really find out about it is at wusa9.com. thank you. wow. >>> our time is 6:20. ahead highlights from the all- star game and hear what president obama says about the washington nationals. >>> but first it is the signs of now. >>> what recession? that's what one real estate company is saying after selling a $43 million home. it is the biggest sale of the year. so where did this deal go down? it is aspen, colorado, burlington, vermont or co
one guy opened it up after the enron scandal. he teaches classes on close- quarter combat. and he calls himself an inmate adaptation specialist. but this is my favorite. in l.a. there's an excon that served ten years for drug trafficking, security violations and distribution of machine guns. he has a course called fed time 101. >> oh, my goodness. >> and his course is help avoid assault, prison ringo and how to avoid the worst jobs in prison. >> reporter: and he had one...
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197
Jul 29, 2009
07/09
by
MSNBC
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eye 197
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aig and enron wanted it, so mr. and mrs. derivative, mr. graham and his wife, mrs. graham, they were on the board. and they attach the bill before congress leaves. and it is passed, and nobody read it. >> and aig theft was consummated last year when we did not exact terms or get fall babacks, and s a bought government? >> remember, the scc, which is the nation's biggest law firm, essentially, was gutted over the past ten years. that's one of the reasons they missed this. >> i know you two have a lot to say. and i have a time monster. we are back with more of the "morning meeting" with karen and barry right after this. every da, transitions lenses are there every da, to help care for my sight. announcer: transitions lenses adjust to changing light to reduce glare and help protect your eyes from uv damage so you can see better today... and tomorrow. live your vision. transitions. healthy sight in every light. when you buy a pair of transitions lenses and register your certificate of authenticity, you could win $100 and we'll make a donation through the transitions hea
aig and enron wanted it, so mr. and mrs. derivative, mr. graham and his wife, mrs. graham, they were on the board. and they attach the bill before congress leaves. and it is passed, and nobody read it. >> and aig theft was consummated last year when we did not exact terms or get fall babacks, and s a bought government? >> remember, the scc, which is the nation's biggest law firm, essentially, was gutted over the past ten years. that's one of the reasons they missed this. >> i...
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499
Jul 13, 2009
07/09
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WETA
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eye 499
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the nine justices decide wheth coress has e authority to pass laws to protect our civil rigs and our enronment. they dcide what checks will exist on the executive brancin war and in ace, cause these issues are so important, we need justices with intelgence, knowledge ofthe law, t poper judicial tperament and commitnt to impaial juste. more than that, we need our supreme courtustices to have understanding of a real wld and the impa their decisions will have on everyday people. we need jusces-whose wiom -- >> the officer -- the oicer wil remove the person the officer will remove the perso we will stand. the time will -- >> as i have said befe d both setor sessions and i have id, you are guests of the senate while yoare here. everybody is a guest of the senate. judge sotomayor deserves respct to be heard. the senator deserve the respect of being heard. no outbust yous --out bursts will be allowed to interpt the ability ofhe senators or of the judge, or i might say of our guests who are sitting he patiently listeng to evything that is being said. i thank t capital policeor respondings quickly and
the nine justices decide wheth coress has e authority to pass laws to protect our civil rigs and our enronment. they dcide what checks will exist on the executive brancin war and in ace, cause these issues are so important, we need justices with intelgence, knowledge ofthe law, t poper judicial tperament and commitnt to impaial juste. more than that, we need our supreme courtustices to have understanding of a real wld and the impa their decisions will have on everyday people. we need...
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Jul 11, 2009
07/09
by
CNBC
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that post enron crackdown that passed congress in 48 hours, it contained questionable measures that languished in congress unapproved for five years and businesses are still hurting from it. small companies spend a lot of their profit growth on new accountants, big companies take their new stock listings to exchanges overseas and sarbanesoxley did nothing to stop the new countdown, one congress is using for a new round of photo ops. it's photo overtime. we start with this picture, the got ya shown around the world. it appears to show president obama eyeing the derriere of a 16-year-old. it seems niclolas sarkozy is getting an eyul aswell. jasowith the "huffington post" and tika is the founder of tycoon publications, what do you think. >> i think the president is getting a bum rap. his picture was taken out of context. when you look at the video, it's a very different image than the photograph, the still photograph really has niclolas sarkozy, th president of france sort of staring at this young girl with a weird expression on his face and the president got tarred and feathered by the same brus
that post enron crackdown that passed congress in 48 hours, it contained questionable measures that languished in congress unapproved for five years and businesses are still hurting from it. small companies spend a lot of their profit growth on new accountants, big companies take their new stock listings to exchanges overseas and sarbanesoxley did nothing to stop the new countdown, one congress is using for a new round of photo ops. it's photo overtime. we start with this picture, the got ya...
687
687
Jul 10, 2009
07/09
by
CNBC
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eye 687
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ththee guys were i in a stete of terminal epepreion, theech bubule but, enron scandal raging, andraqinvasion imminent, , we were still hurtig from 1111 more than a y yea before that. janunuy,y, 23. look a at this stock chart. ound the time t the were so prpresd to our market higigh mid-october, l right.t. stococent up, s&p 500, veryy broadindex,72%, lieieand gentleleme in that nice ssss than five year peperi %, that is anan average annual return 1212 per r ye over that entire time right t wh thoseeosere elelinso depressssed itit'sbeautiful beautiful thing. i keke avavin out whahat folloe but wt follolows can always lead to the next i if only we work hd at it. i'm not sayayin we canrepeat ththat in t next five yeyes,s, e real fact is, just donon't kkno youunonow atat th guys in sun valley, t the don'ttnow eieier. no do the experts on wall stetet o my buddy,hehe b basenet rats at the bg, all o o us, yo get right d dow to, a are guguesngngn bbetngng. y not sell a little hope. new n numrsrs for jobless clala cacameut today. they were e blkk but not nearly as bleak as expectcted think we wll have
ththee guys were i in a stete of terminal epepreion, theech bubule but, enron scandal raging, andraqinvasion imminent, , we were still hurtig from 1111 more than a y yea before that. janunuy,y, 23. look a at this stock chart. ound the time t the were so prpresd to our market higigh mid-october, l right.t. stococent up, s&p 500, veryy broadindex,72%, lieieand gentleleme in that nice ssss than five year peperi %, that is anan average annual return 1212 per r ye over that entire time right t...
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121
Jul 30, 2009
07/09
by
MSNBC
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you have ceos and i read about them what happened in 2003 with enron and worldcom and then what's happened in the last year or so, who basically drive their companies into the ground and in the process become phenomenally rich themselves. that was not what was intended by capitalists. >> so we're now going to transform new the secretary of the treasury. you are presiding over what hank paulson and george bush saw a year ago. what do you do about it? you have a company like aig, which is $185 billion, has $185 billion of taxpayers' money. do you let them fail? because if you do, you know what the consequences are. >> no. i would not have let them fail but i would have driven a very hard bargain. i would have attached many strings which would have included breaking up the company so it's no longer too big to fail which it continues to be and i would have definitely driven a very hard bargain when it came to paying back the counterparties. we gave a hundred cents to the dollar so that's why goldman sachs for example ended up getting $12 billion from the government. so when goldman sachs comes
you have ceos and i read about them what happened in 2003 with enron and worldcom and then what's happened in the last year or so, who basically drive their companies into the ground and in the process become phenomenally rich themselves. that was not what was intended by capitalists. >> so we're now going to transform new the secretary of the treasury. you are presiding over what hank paulson and george bush saw a year ago. what do you do about it? you have a company like aig, which is...
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117
Jul 4, 2009
07/09
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CSPAN2
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eye 117
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time the internet was still something of a novelty and playboy does love the novelty shoot women of enron women of all of guardian. [laughter] i posted a couple of private on-line conferences in a nerdy bay area internet community which seem like a good enough qualifications a voice and in my photo and did not hold out much hope of a couple of months later i got a call from a photo editor named stephanie barnett who said we would like to shoot you and offered to fly me out to los angeles later that month. the good citizens of bunny land do not mess around and they sent someone to it lax to take me to my hotel out by the beach and show up shade moisturized manicure pedicure and her and face three of my gut. the following morning a car picked me up and took me to playboy studio was where i was shown the said the bill for me a makeshift stage a stripper poll and a bank of video monitors. they had a contract ready to sign their are changed into a white terry cloth robe and was shown into the makeup room. demerged two hours later with her tease and a pamela anderson make tough job to rows of f
time the internet was still something of a novelty and playboy does love the novelty shoot women of enron women of all of guardian. [laughter] i posted a couple of private on-line conferences in a nerdy bay area internet community which seem like a good enough qualifications a voice and in my photo and did not hold out much hope of a couple of months later i got a call from a photo editor named stephanie barnett who said we would like to shoot you and offered to fly me out to los angeles later...
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291
Jul 11, 2009
07/09
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FOXNEWS
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the pensions leaning too far is nothing new, back in the days of the ipo's or the enron worldcom situations where we-- nobody wants stocks anymore or the irriegsal exuberance of the stock market. right now, it's moved too far and the banks have a lot on their plates right now, julie. they've got a lot of properties that they foreclosed on, they need to work through to sell, they have a lot of problems with mortgages already on their books. >> julie: yeah. >> weather that's modification or some other way to work through that and they've got capital positions that are not what they've historically been. they've got crushed stock prices for bad earnings and i think right now, as they work through these things, any new risk they take on, julie, they're going to run pretty tough screens on it. unfortunately, for many americans looking to take advantage of cheap home prices, that's the catch 22. now, the prices are great, but you can't buy. >> julie: mortgage lenders like you point out are facing serious issues like the large amount of mortgages on their books that are delinquent or in default an
the pensions leaning too far is nothing new, back in the days of the ipo's or the enron worldcom situations where we-- nobody wants stocks anymore or the irriegsal exuberance of the stock market. right now, it's moved too far and the banks have a lot on their plates right now, julie. they've got a lot of properties that they foreclosed on, they need to work through to sell, they have a lot of problems with mortgages already on their books. >> julie: yeah. >> weather that's...
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377
Jul 13, 2009
07/09
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CNBC
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was at the beginning of that corporate crime wave, didn't get as much time as like jeff skilling from enron got and -- >> what did skilling get? >> skilling got 25 years. ebbers 25. >> 25 years, skilling 25 years. >> the judge just set the bond for the ex-cfo in stanford financial at $500,000, pertinent to the conversation we are hearing this now. go ahead. >> so, take ebbers, ebbers is a gay who was an $11 billion accounting fraud, went to trial, didn't cooperate in anyway way, didn't admit he was guilty. it was a long, drawn-out trial, takes a huge amount of resources, he got 25 years. you are talking about someone like dryer, i disagree with jim completely, drier, 145 years for pleading guilty doesn't matter if you are caught red-handed, might as well make the government go through all the work of proving each detail of that case beyond a reasonable doubt. >> what does the public think? this is about the public perception that white collar criminals get treated better than -- >> the money back. >> minority people, also trying to get him to sing, you know, a lot of people like myself are
was at the beginning of that corporate crime wave, didn't get as much time as like jeff skilling from enron got and -- >> what did skilling get? >> skilling got 25 years. ebbers 25. >> 25 years, skilling 25 years. >> the judge just set the bond for the ex-cfo in stanford financial at $500,000, pertinent to the conversation we are hearing this now. go ahead. >> so, take ebbers, ebbers is a gay who was an $11 billion accounting fraud, went to trial, didn't cooperate...
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1.3K
Jul 22, 2009
07/09
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WETA
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on-proliferation to the environmen but she ran into uneectedly strong public resistae on climate change from ind's enronment minister. >> india's position is i would like to make clear and categorica- india's position is that we are simply t in a position to take on legly biding emission reduction targets. >> reporter: develong cotries like india don't want to be forcedo slow growth inzq the name of reducing emsions. clinton sough to ease those ncerns. >> the unitedtates does not and will not do athing that wld limit india's economic ogress. >> reporter: during three ds imumbai, secretary clinton also met with a broadrray of women's, business and civ groups. and in sign of solidarity with india, herhoice of hel was the taj mal in mumbai-- target f last november's bloody terrorist attack. >> warne for more, we get two views. michael green was seni director for ian affairs on the nationasecurity council staff during the bus administration. he's now wi the center for strateg and international studies, a waington think tank, and an asciate professor at georgeto university. and trudy rubin is aoreign affairs cum
on-proliferation to the environmen but she ran into uneectedly strong public resistae on climate change from ind's enronment minister. >> india's position is i would like to make clear and categorica- india's position is that we are simply t in a position to take on legly biding emission reduction targets. >> reporter: develong cotries like india don't want to be forcedo slow growth inzq the name of reducing emsions. clinton sough to ease those ncerns. >> the unitedtates does...
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385
Jul 28, 2009
07/09
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WETA
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i by dropping bombs on compounds you're also killing civians, in this enronment you're going to rend yourself operationally ineffecte pretty quick by doing at. and sohat we're talking about is the cultural change not just wiin the u.s.military but within the militaries of all those natis that are fightin in afanistan and trying to wean ourselves off this reliance on orwhelming fireper which, in theost-vietnam era and certainly the way that i was educated as a military ofcer at we were taught tha if you receive one round of 5.56 millimeter then you shld send 60 millimeterortars in retn. thatas kind of the arithmetic weere taught atthe infantry officebasic courseefore 9/11. but in the operational enviroents in iraq and afghanistan, kiing civilians actually pushes th goalposts fartheaway. rose: are our interests aligned th the intest of the afghanovernment? >> it's actually a fs sumption thas present in u.s. counterinsurgen doctrine. we aricans when we pursue counteriurgency campaign wes do so normallys third parties in contras to, for example, the british who fought in northern ireland
i by dropping bombs on compounds you're also killing civians, in this enronment you're going to rend yourself operationally ineffecte pretty quick by doing at. and sohat we're talking about is the cultural change not just wiin the u.s.military but within the militaries of all those natis that are fightin in afanistan and trying to wean ourselves off this reliance on orwhelming fireper which, in theost-vietnam era and certainly the way that i was educated as a military ofcer at we were taught...
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Jul 22, 2009
07/09
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CSPAN2
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. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail is an enormous problem. if we don't do anything else we need to solve that problem. this is critical because it would mean creditors would take losses if there are resolution costs the presumption is they would be paid by assessments on the other financial companies. >> with the republicans have proposed our financial services regulatory reform proposal includes an expedited bankruptcy within the bankruptcy code and i would ask you to particular attention to that. one thing that i am also concerned about is even having the financial system take those losses or the taxpayers and i would hope that we would preserve a true if
. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail...
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325
Jul 30, 2009
07/09
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WETA
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those are the things tha we need to be constantly concerned abou alsoew threats in a changing enronment. the whol issue ofyber and the protecti of our cyber networ. not just fm hackers but from those who want to get into and use th cyber world to get to our critical infrastructe. >> re: and shut down our economy. >> and try toshut downur economy, yes. >>ose: you have hired a hacker, a prominent hacker, you said, to the council foreign relations. that seems like a smart ing to do. why did it takeo long? >> wel i don't know. 's actually a volunteer. he's on our spial adviso committee. but we have be in the cyber area hiring real experts from the privatesector to come to really let us be atthe forefront of this new battlefield. both in terms how we coordinate ang the federal gornment, but also, again, with the private sector which owns 85% of our ctical infrastructure. >> rose: do you ha the resources too the job? >>verall, ye if you just lk nuts and bolts andhat sort of ing, yes. this department has bn well funded historically by e congress. the president himlf putn another increase this
those are the things tha we need to be constantly concerned abou alsoew threats in a changing enronment. the whol issue ofyber and the protecti of our cyber networ. not just fm hackers but from those who want to get into and use th cyber world to get to our critical infrastructe. >> re: and shut down our economy. >> and try toshut downur economy, yes. >>ose: you have hired a hacker, a prominent hacker, you said, to the council foreign relations. that seems like a smart ing to...
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216
Jul 24, 2009
07/09
by
CNBC
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eye 216
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>> no, whatever the rationales were originally, we saw this problem first arise when enron hit, and the fact that people could create these special purpose vehicles. and now we're seeing it all over again. the fact of the matter is, if a corporation is exposed to potential liability, it should show up on its financial statements. >> yeah. i mean, and also, i mean, another thing as we're watching this hearing, we're watching tim geithner make this huge, you know, plea for this consumer protection authority. has anyone asked the question, what is it going to cost? >> well, that's the other problem with this. we're seeing it now with health care. we clearly need regulatory reform. the difficulty is, we're assuming all sorts of new regulatory burdens, and somebody is going to have to pay for that. >> yeah. >> and there isn't enough money to go around, although the government seems to keep printing it. so i think that there's a real disconnect between what they want to achieve, which is all very valid, and how they're going to get there, which i think raises serious questions. >> rick santel
>> no, whatever the rationales were originally, we saw this problem first arise when enron hit, and the fact that people could create these special purpose vehicles. and now we're seeing it all over again. the fact of the matter is, if a corporation is exposed to potential liability, it should show up on its financial statements. >> yeah. i mean, and also, i mean, another thing as we're watching this hearing, we're watching tim geithner make this huge, you know, plea for this...
481
481
Jul 30, 2009
07/09
by
HLN
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he's never had a trial. >>> at 3:00 p.m., the enron appeal is scheduled. en appeals court tossed out an earlier appeal of 24 years. >>> they stepped in for a guy in a horrible wreck last weekend. here's rafer. >> we talk about guys coming out refuse tirmt, but this had a different feel to it. felipe massa is still hospitalized after hitting that tire at full speed. michael shchumaker is coming to take massa's place on the team. his first place could come sunday on the european grand prix. a lot of people are looking forward to seeing that. >>> michael vick may be able to return a football, but not a lot of you are excited about it. a-rod was number three, followed by terrell owens and kobe bryant. the big surprise was john mcenroe at number 10. he retired years ago. what do you think about this and why? start your text with robin's name so it gets to us or e-mail us. jack texted, i dislike brett favre. he has played the attention game as much as he has football during his long, drawn-out retirement. he lost my respect. meanwhile, an anonymous viewer texted
he's never had a trial. >>> at 3:00 p.m., the enron appeal is scheduled. en appeals court tossed out an earlier appeal of 24 years. >>> they stepped in for a guy in a horrible wreck last weekend. here's rafer. >> we talk about guys coming out refuse tirmt, but this had a different feel to it. felipe massa is still hospitalized after hitting that tire at full speed. michael shchumaker is coming to take massa's place on the team. his first place could come sunday on the...
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268
Jul 16, 2009
07/09
by
CNBC
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when this country experienced enron, there was outage from coast to coast. people who are not informed about the material things that were happening and not happening within that company. pause the shareholders were left in the dark. my concern is the lack of transparency to the shareholders, and to the public at large, not only as investors, but as investors -- as shareholders, if you will, as being taxpayers in this country. so the question that i have, i want to get -- follow up on mr. jordan's question. a little deeper into why you did not share this information with other regulatory agencies, for instance, the s.e.c. why didn't you feel compelled to share informatwith them? >> first of all, we were working with the regulators that were involved with putting the financial assistance together. that was the effort. the -- >> but -- >> but the -- the -- responsibility, it is not a treasury secretary's job to get between a company and its -- and the s.e.c., for instance. >> but my understanding -- >> i've been around long enough to know, these are critically
when this country experienced enron, there was outage from coast to coast. people who are not informed about the material things that were happening and not happening within that company. pause the shareholders were left in the dark. my concern is the lack of transparency to the shareholders, and to the public at large, not only as investors, but as investors -- as shareholders, if you will, as being taxpayers in this country. so the question that i have, i want to get -- follow up on mr....
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179
Jul 2, 2009
07/09
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CSPAN2
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is one of the one we can see and for every enron i can show a state regulator that put somebody to jail, jr t the best example i can think of but to start from scratch this epoxy is going to solve all these problems and i think it is an unrealistic expectation i'm not saying there are all good people that work for government. i'm saying the level of expertise required that the person could have his own independent evaluation for the rest of the world and maybe serve a greater good than trying to have the government do it and there is nothing wrong, certainly nothing wrong with having a database. we talked about that and thought about that before that if you have a derivative, you filed a derivative and list every component and put back on the index you can get online and everybody can see online for transparency but then of course the word is we are registered with this implied value to that unwary consumer that we are looking now for my not understand. thank you, i think you gave me extra time and i appreciate that. >> mr. chairman, if i might comment, esters posey's comment on reinsur
is one of the one we can see and for every enron i can show a state regulator that put somebody to jail, jr t the best example i can think of but to start from scratch this epoxy is going to solve all these problems and i think it is an unrealistic expectation i'm not saying there are all good people that work for government. i'm saying the level of expertise required that the person could have his own independent evaluation for the rest of the world and maybe serve a greater good than trying...
785
785
Jul 9, 2009
07/09
by
CNBC
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eye 785
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ththe janese currencycy, widely considered to one of the safest destitinaonon under this enronment briefly touchehe99 yen before retreating tohe 93 leleve this hurt automakaker ke toyota anan honda as well ass elelectni s. afr the bell, f fas reiling, the operator of ararel said its oup nett profitumumd %% in ththpast nine months. it upgraded ss physysic deficit beeeen n.n. also in positive news, t thesasd ththat b by 10%. the plan is currently operating full pacity, manufacturing 90,000 modelsasast momont an in ann interesting develolopmt,t, chinina' soverei wealth fund,hina investmenen corp., h hasamamed fmeme shiba chairman andcucurrt chairman o f the tokyoo stock changee as a member of its iter natural.l. >>>> miyiyu san,n, thank you ve much f forhaha chris s still to kol come, we'll have moree just aerer the praeae v. >>> how u.s. f foohshs a shaping uptake a look here. >>> anddelcometo cnbc's ororldde exchange." hererere some of the toptotoes wewe'rwawatcng from around the worlrld. the trsusury department hasas veveed a t tmmmmedown versision of i program t to ve private investorss b
ththe janese currencycy, widely considered to one of the safest destitinaonon under this enronment briefly touchehe99 yen before retreating tohe 93 leleve this hurt automakaker ke toyota anan honda as well ass elelectni s. afr the bell, f fas reiling, the operator of ararel said its oup nett profitumumd %% in ththpast nine months. it upgraded ss physysic deficit beeeen n.n. also in positive news, t thesasd ththat b by 10%. the plan is currently operating full pacity, manufacturing 90,000...
687
687
Jul 16, 2009
07/09
by
WJZ
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eye 687
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and the einsteins who changed that ball field in houston to enron field. how's that going? >> how's that working out for you? >> and a great honor and a worthy honor for robert f. kennedy, the triboro bridge in new york city has been named the robert f. kennedy bridge. >> national airport, reagan airport. >> i hear people call it reagan. >> i'm going to reagan. >> i do too. there's still a lot of people. >> it's generational. it takes a full generation of people who forgot what it used to be called. >> shea stadium is citi field. >> that one we'll never get used to. >> people still go to shea. >> and you're going to citifield to catch paul mccartney. >> i'm going to catch him in concert. very excited. >> remember when we saw ringo live on the roof in liverpool. >> i do. >> ringo told me of all the beatles, paul -- like newman on seinfeld seinfeld. paul is the one who always got all the girls. we brought it full circle i think. >> we feel good about it. >> i'm going to get out my guitar and strum kumbayah and maybe play us to break. >> still to come in the tv business, who m
and the einsteins who changed that ball field in houston to enron field. how's that going? >> how's that working out for you? >> and a great honor and a worthy honor for robert f. kennedy, the triboro bridge in new york city has been named the robert f. kennedy bridge. >> national airport, reagan airport. >> i hear people call it reagan. >> i'm going to reagan. >> i do too. there's still a lot of people. >> it's generational. it takes a full generation...
461
461
Jul 24, 2009
07/09
by
CNBC
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eye 461
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. >> after enron, what a concept, you know, to consider off balance sheet, item might affect on balance sheet. >> no risk, apparently. >> yeah, yeah. could be a problem. >> rebecca, you're right. this morning not quite the frenzy that we saw yesterday. just take earnings of 5 cents ahead of expectations, but the oil field service company, again, suffering from a decline in north american drilling activity. company says drilling in the u.s. and canada reached a five-year low. and they reiterated it does not expect a recovery before next year. kind of what we heard from halliburton earlier in the week as well. >> on the morning show, you not only have to do the stuff that happens before that morning but also anything after 4:00, it's fair game and it's ours. a few stock that did report after the bell yesterday, the big one, the granddaddy of them all, the granddaddy of all tech, microsoft reporting earnings per share that were two cents below expectations. a dropoff of global pc sales weighed on both revenue and profits. also, profits negatively impacted by charges relating to its forthco
. >> after enron, what a concept, you know, to consider off balance sheet, item might affect on balance sheet. >> no risk, apparently. >> yeah, yeah. could be a problem. >> rebecca, you're right. this morning not quite the frenzy that we saw yesterday. just take earnings of 5 cents ahead of expectations, but the oil field service company, again, suffering from a decline in north american drilling activity. company says drilling in the u.s. and canada reached a five-year...
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133
Jul 7, 2009
07/09
by
CSPAN2
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eye 133
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on the one hand, they did not like our speak -- free-speech claim, they saw it as enron against van norden and prior establishment cases that had approved a public display of the 10 commandments, they thought they had already approved a right of singular or preferred access for the 10 commandments where everyone gets to put up a monument. they were worried that as a practical matter if we won this case, cities will take down their 10 commandments monuments before they would open their parks to a bunch of other crazy religious monuments. on the other hand, these justices were very aware, as liberal justices, that once you call an arguably religious monument government speech, you make it much more amenable to establishment clause challenge. i think what is most interesting about the opinion in this case is how justice of the go --al --alit--alito tried to college government speech which immunizes from free speech claim, but at the same time, tried to minimize the establishment clause exposure from that kind of monument. again, this shadow establishment clause, the way it was being fought ou
on the one hand, they did not like our speak -- free-speech claim, they saw it as enron against van norden and prior establishment cases that had approved a public display of the 10 commandments, they thought they had already approved a right of singular or preferred access for the 10 commandments where everyone gets to put up a monument. they were worried that as a practical matter if we won this case, cities will take down their 10 commandments monuments before they would open their parks to...
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Jul 21, 2009
07/09
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CNBC
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. >> you know, enron, worldsocom, drexel, worked very well, the bankruptcy regime. do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely. otherwise you ever a too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? i mean you would not be asking taxpayers to guarantee or back stop losses? >> absolutely. i think too big to fail is an enormous problem, if we don't do anything else, we need to solve that problem. this is a critical element in solving it because it means that creditors would take losses f there are resolution costs, the presumption is they would be paid by assessments by other financial companies. >> republicans have proposed our financial services regulatory reform proposals includes an expedited bankruptcy within the bankruptcy code. and i would ask you to pay a particular attention to that. one thing that i'm also concerned about is even having the financial system take those
. >> you know, enron, worldsocom, drexel, worked very well, the bankruptcy regime. do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely. otherwise you ever a too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? i mean you would not be asking taxpayers to guarantee or back stop losses? >>...
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Jul 22, 2009
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but i would urge you to look at the enron situation and think about the kind of staff you might high year in the additional authority is you've been given. >> it's funny you mention that because we recently brought on -- i prosecuted the refco matter and we are bringing on world. >> bill black of missouri, kansas city, he had worked for the commodity futures corporation back in the early 90's, i don't believe he is for higher but his way of thinking about what went on is very useful and i wish to share that with you. i also want -- to put two issues out. one is warrants, and my deep concern about for instance goldman sachs and their warrant, it is my understanding that the american people have the right to 12.2 million shares of gold according to the numbers i have come and gold and actually has the privilege under the agreement determining when the tax payers have to sell those warrants, so they control the price and timing and i think it's really important of the war -- warrant that you examine these warrant potentials and the timing for the american people because the other day th
but i would urge you to look at the enron situation and think about the kind of staff you might high year in the additional authority is you've been given. >> it's funny you mention that because we recently brought on -- i prosecuted the refco matter and we are bringing on world. >> bill black of missouri, kansas city, he had worked for the commodity futures corporation back in the early 90's, i don't believe he is for higher but his way of thinking about what went on is very useful...
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Jul 21, 2009
07/09
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if it you did the auditing of the company, you were no longer in the wake of the enron scandal allowed to do consulting as well. tougher rules for the agencies. >> the s.e.c. would have powers to regulate the industry, according to reuters, and this happens when they go rating shopping, looking for another company to rate them. so that would be something that i think would be of interest to creditors. >> because they would be looking for a better -- rating. yes. let's get back to capitol hill, where ben bernanke continues his testimony. >> and i understand truly. i heard people say there are signs of stabilization. you didn't mention that you think there has been a peak in unemployment. i guess a peak has gone from 680,000 a month down to $500,000 a month, we're losing jobs. that's significant, and i think as time goes on, you're going to lose fewer and fewer jobs each month, because fewer and fewer people are able to be laid off. but we've gone from the subprime debacle, and it seems like now we're going through a second round in the residential. and that's individuals who had good lo
if it you did the auditing of the company, you were no longer in the wake of the enron scandal allowed to do consulting as well. tougher rules for the agencies. >> the s.e.c. would have powers to regulate the industry, according to reuters, and this happens when they go rating shopping, looking for another company to rate them. so that would be something that i think would be of interest to creditors. >> because they would be looking for a better -- rating. yes. let's get back to...
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Jul 11, 2009
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deatirivatives because they can protect against risk, they can lower costs, but as we saw with, i guess, enron, as a great example, they can take both dealers and investors down. and when that happens, i would like some assurance that the taxpayers are not going to ultimately be the ones who assume that risk. that's not what we ought to be about. last september, leading up to last september, a lot of people made investments. they wrote over the counter derivatives. they made billions of dollars. profits on the way up. but when things turned down, who was asked to come in and backstop them? who was asked to take the risk, to suffer the loss. it was the taxpayer. now i personally believe that we ought to allow corporations to continue to write customized derivatives and that, yes, the government can look at them, but i -- another thing that we ought to consider is the government the best party to judge risk? and i say no. i think the government has a very poor track record, regulators, of identifying risk. are we going to leave when we start having standardized trading of over-the-counter deriva
deatirivatives because they can protect against risk, they can lower costs, but as we saw with, i guess, enron, as a great example, they can take both dealers and investors down. and when that happens, i would like some assurance that the taxpayers are not going to ultimately be the ones who assume that risk. that's not what we ought to be about. last september, leading up to last september, a lot of people made investments. they wrote over the counter derivatives. they made billions of...
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Jul 26, 2009
07/09
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. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail is an enormous problem. if we don't do anything else we need to solve that problem. this is critical because it would mean creditors would take losses if there are resolution costs the presumption is they would be paid by assessments on the other financial companies. >> with the republicans have proposed our financial services regulatory reform proposal includes an expedited bankruptcy within the bankruptcy code and i would ask you to particular attention to that. one thing that i am also concerned about is even having the financial system take those losses or the taxpayers and i would hope that we would preserve a true if
. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail...
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Jul 29, 2009
07/09
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MSNBC
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you made about it's the same thing all over again, except on such a more monumental scale, because enron and worldcom were dealing with billions of shareholder work and citigroup and goldman and bank of america and aig are dealing with trillions of taxpayer money. >> well, and taxpayers who we're seeing, some of them, at least, some of the hardest times in generations. >> absolutely. that's really the opportunity cost of what we're doing. if you look at the fact that states all across america are carti cutting sbined debt is 1$166 billion. we gave aig $80 billion. >> should we have not bailed out goldman sachs? >> i think we should be breaking them up, actually we forming the system. it will happen again. there is no doubt. it will happen again. and it will happen again faster. >> it's not a prediction. >> jonathan capehart has a question for you. >> hi, jonathan. >> hi. do you think the executive pay will have impact on how these banks operate or is this just of window dressing to placate a very angry public. >> it starts as window dressing. putting an ad of too big to fail. unless we d
you made about it's the same thing all over again, except on such a more monumental scale, because enron and worldcom were dealing with billions of shareholder work and citigroup and goldman and bank of america and aig are dealing with trillions of taxpayer money. >> well, and taxpayers who we're seeing, some of them, at least, some of the hardest times in generations. >> absolutely. that's really the opportunity cost of what we're doing. if you look at the fact that states all...
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perhaps the columbus circle station or enron time square. you never know where this could end up. >> and in brooklyn of all places where they like to be independent and free from the commercialism. we're going to staples center, right? every single arena is -- >> or the nokia center across the street. >> richard doesn't look too happy about it at all. all right, richard. >> well, it could get confusing. >> at least they're not renaming the united nations any time soon. as far as we know. >> reporter: you never know. wellbeing. we're all striving for it. purina cat chow helps you nurture it in your cat with a full family of excellent nutrition and helpful resources. purina cat chow. share a better life. the gold delta skymiles credit card... from american express... it's the official card... largest airline. of the world's and it's the only credit card... that earns miles on delta. miles that take you... to more places than ever before. over 350 destinations worldwide. so switch today. get up to 25,000 bonus miles-- good for a free flight. ca
perhaps the columbus circle station or enron time square. you never know where this could end up. >> and in brooklyn of all places where they like to be independent and free from the commercialism. we're going to staples center, right? every single arena is -- >> or the nokia center across the street. >> richard doesn't look too happy about it at all. all right, richard. >> well, it could get confusing. >> at least they're not renaming the united nations any time...